Suven Life Sciences Ltd

Suven Life Sciences Limited (Formerly known as Suven Pharmaceuticals Ltd) was incorporated in March, 1989. The Company changed its name from Suven Pharmaceuticals Limited to Suven Life Sciences Limited in September, 2003. Promoted by Sudharani Jasti and Venkateswarlu Jasti, the Company began operations in 1989 as specialty chemicals provider.The Company is a clinicalstage biopharmaceutical company focused on the acquisition, development and commercialization of novel therapeutics for the treatment of neurodegenerative disorders. Suven has a wholly owned subsidiary, Suven Neurosciences, Inc., USA, focused on clinical development activities of Suven molecules from phase 2, ProofofConcept (POC) studies.The Company is in the business of Contract Research And Manufacturing Services (CRAMS), catering to the needs of global life science industry and fine chemical majors. Suvens CRAMS provide innovative process research and development, supplies to clinical trials, rapid response pilot scale manufacture, dedicated commercial manufacturing on an exclusive basis. The services include Custom Synthesis, Process RD, Scale Up and Contract Manufacturing of intermediates, APIs and formulations. Suven Life Sciences has graduated from contract research to Collaborative Research transitioning from projectbased transactions into relationshipbased business.In March 1995, SPL came out with a public issue of 9.8 lac equity shares at a premium of Rs 40 aggregating Rs 4.9 cr to partfinance the companys project for the manufacture of bulk drugs and drug intermediates and meet longterm working capital requirements totalling to Rs 6.43 cr. During 19992000, the company acquired a small pilot plant in Jeedimetla Industrial Estate, Hyderabad.During 200001, the company has registered a most remarkable record. The total sales of the company during 200001 have registered a growth of 71% over the previous year. The Profit After Tax (PAT) has also registered a growth of 325% over the previous year.During the financial year ended 31 March 2014, Suvens Drug discovery portfolio has expanded into several new therapeutic areas such as Major Depressive Disorder (MDD), Obesity and Pain through Neuronal Nicotinic Receptor modulators. In addition, D4010 and G3031 are undergoing regulatory toxicological studies in preparation for them being moving into Phase 1 clinical trial during 201415.During the year 2014, Suven has made significant inroads into drug discovery with a specialization on CNSbased programmes targeting unmet medical needs. The Company enjoys a unique position in the India (and Asia) as one of the prominent company with technologies under central nervous system (CNS). It has funded drug discovery for nine years resulting in a robust pipeline of 14 molecules at various stages of development. Suvens discovery assets address niche therapeutic areas like cognition, depression, obesity and pain management.In FY14, the Company filed one ANDA with the USFDA authorities for Malathion lotion, a headlice product with sales potential estimated at US35 million. In 201314, it granted the exclusive license to Taro Pharmaceuticals to market the product in the US, Canada and Mexico, which is expected to generate revenues and royalty in 201415. During FY2015, Suvens lead clinical candidate SUVN502 has successfully completed Phase 1b clinical trial thus paving the way for the copound to move into Proof of Concept (PoC) Phase 2a study. In addition to above compounds, SUVN D4010 is in its final stages of completing regulatory toxicological studies which will enable it to move into Phase 1 clinical trial in USA.During the FY2015, the Company has issued and allotted 104,53,690 equity shares of Re 1/ each at a premium of Rs 190.32 per share by way of QIP Issue in accordance with the SEBI ICDR guidelines.During FY15, the Companys main focus stayed on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets. During FY15, the Company added two new clients to its CRAMS business. It commenced operations at its Vishakhapatnam unit and shifted the manufacturing intermediates for a specialty chemical product to this unit. The shift not only optimized capacities at its CRAMS facilities but also made the CRAMS operations more efficient.During FY2017, the company has spent Rs. 6973 lakhs on innovative RD in CNS therapies accounting for 13% on sales. Its focus remained on discovering, developing and commercializing novel pharmaceutical products, which are first in class CNS therapies through use of GPCR targets. During FY 2017, the Company has invested a sum of Rs 6501 lakhs in Suven Neurosciences Inc., a wholly owned subsidiary, for its business purpose.In FY2018, the company has spent Rs 6,390 lakhs on innovative RD in CNS therapies accounting for 10% on sales.The Company invested a sum of Rs.13,636 lakhs in Suven Neurosciences, Inc., for its business purpose. The Company acquired entire share capital of Rs.1 lakh in Suven Pharmaceuticals Limited identified as Resulting Company for the purpose of Scheme of Arrangement (Demerger) and as of 31st March, 2019 no investments were made in newly formed Suven Pharma, Inc. in USA.During the FY 20182019, Suven Pharmaceuticals Limited in India and Suven Pharma, Inc., in USA became the subsidiary companies.In 201819, the Company completed the Clinical Trial (Phase II) of the lead molecule SUVN502, Masupirdine. In 201920, the Contract Research and Manufacturing Services (CRAMS) Undertaking of the Company was demerged to its wholly owned subsidiary, Suven Pharmaceuticals Limited as a going concern through a Scheme of Arrangement effective from 1st October, 2018.